Solar panels are available in various sizes, with the best size based on the size of your home and your specific electricity consumption needs. Simply put, the larger the solar panel setup, the more expensive it is to install. It’s also worth noting that the bigger your system is, the faster you’ll be able to recover costs due to the system’s increased efficiency.

Here are four other factors that determine the cost of getting a solar panel system installed at your home or office.

1.    Type on Panel:

The three most prevalent types of solar panels used for home purposes are Monocrystalline, polycrystalline, and thin-film solar panels. Monocrystalline panels are considered to be the most effective, but they’re also the most expensive. If you’re seeking a cost-effective option, polycrystalline and thin film may be the way to go. They’re both reasonably priced and have an efficiency rate of over 14%.

2.    Process of Installation:

The simplicity of assembly is another element that influences the cost of solar panels. While it is possible to conduct the setup yourself, getting it right can be difficult, so it is best to leave it to the experts. The number of panels, the angle, and the roof’s sturdiness must all be considered. The higher the cost, the more labor it takes to set the panels. A skilled installer and the solar panel supplier of your choice can assess this.

3.    Other Components to add:

If you want to add more elements to your solar panel system, the cost of the equipment will go up, but the cost of installation will go down. Whether you’re having a solar battery backup system or other features like pigeon guard protecting your panels, it’s advisable to combine them with installing the panels to save money.

4.    Interconnection to the Power grid:

The process of integrating your solar panel system into the neighborhood electricity grid is known as interconnection. Each local utility has its own set of rules to follow, and some of them may influence the sort of meter you need or whether transformer improvements are necessary. The cost of connections varies based on how much solar is already installed in your area, the condition and robustness of the equipment on your line, and the size of the solar panel.

Any unused electricity that is reprocessed for net metering must be delivered to the utility metre. The further the solar panels are from the utility’s interconnection point, the higher goes the installation expense.  This is due to the conduit assembly and trenching that must be done and the cable size that must be used. The longer the distance, the more wiring is needed.